Bassett Furniture Industries (NASDAQ:BSET) Stock Price Passes Below Two Hundred Day Moving Average of $15.04

Shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $15.04 and traded as low as $13.76. Bassett Furniture Industries shares last traded at $14.05, with a volume of 19,302 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Bassett Furniture Industries from a “buy” rating to a “hold” rating in a report on Saturday, April 6th.

Bassett Furniture Industries Stock Performance

The firm has a market capitalization of $124.06 million, a PE ratio of -20.97, a PEG ratio of 3.83 and a beta of 1.68. The company has a fifty day simple moving average of $14.02 and a two-hundred day simple moving average of $15.04.

Bassett Furniture Industries (NASDAQ:BSET) last issued its quarterly earnings data on Wednesday, April 3rd. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.15). The company had revenue of $86.55 million for the quarter, compared to analysts’ expectations of $91.48 million. Bassett Furniture Industries had a negative return on equity of 0.64% and a negative net margin of 1.57%. On average, equities analysts anticipate that Bassett Furniture Industries, Incorporated will post 0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bassett Furniture Industries

Hedge funds have recently made changes to their positions in the stock. Inspire Advisors LLC increased its position in Bassett Furniture Industries by 8.0% during the 1st quarter. Inspire Advisors LLC now owns 11,872 shares of the company’s stock valued at $175,000 after buying an additional 880 shares in the last quarter. Empowered Funds LLC increased its position in Bassett Furniture Industries by 7.5% during the 1st quarter. Empowered Funds LLC now owns 22,593 shares of the company’s stock valued at $333,000 after buying an additional 1,575 shares in the last quarter. Barclays PLC increased its position in Bassett Furniture Industries by 42.6% during the 3rd quarter. Barclays PLC now owns 9,502 shares of the company’s stock valued at $140,000 after buying an additional 2,837 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in Bassett Furniture Industries during the 4th quarter valued at about $218,000. Finally, Assenagon Asset Management S.A. acquired a new position in Bassett Furniture Industries during the 1st quarter valued at about $224,000. 54.40% of the stock is currently owned by hedge funds and other institutional investors.

About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.